Limitation of Expenditures. Operator shall notify all Parties in writing and an AFE shall be prepared before incurring any item of expense, which is equal to or exceeds US $50,000.00. Such item of expense shall not be incurred unless a majority in interest of the Parties signify their consent thereto in writing within 10 days of the written notice.
Appears in 4 contracts
Samples: Operating Agreement (Saba Petroleum Co), Operating Agreement (Saba Petroleum Co), Operating Agreement (Saba Petroleum Co)